Lennar (NYSE:LEN) Price Target Lowered to $85.00 at Citigroup

Lennar (NYSE:LEN) had its target price dropped by equities researchers at Citigroup from $88.00 to $85.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Citigroup’s target price would indicate a potential upside of 10.94% from the stock’s current price.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. cut their price objective on Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 16th. Evercore upped their price objective on shares of Lennar from $82.00 to $87.00 and gave the stock an “underperform” rating in a research note on Monday, June 15th. Zacks Research cut shares of Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. Citizens Jmp reiterated a “hold” rating on shares of Lennar in a research note on Thursday. Finally, Wells Fargo & Company reduced their price objective on shares of Lennar from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat.com, Lennar has an average rating of “Reduce” and an average price target of $88.87.

Lennar Price Performance

Shares of Lennar stock opened at $76.62 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 4.94. The stock has a 50 day moving average price of $84.15 and a 200-day moving average price of $88.30. The stock has a market cap of $18.46 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 2.56 and a beta of 1.39. Lennar has a one year low of $75.70 and a one year high of $133.76.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, September 16th. The construction company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). Lennar had a net margin of 4.09% and a return on equity of 6.15%. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $8.32 billion. During the same quarter last year, the firm earned $2.29 EPS. The company’s revenue was down 8.7% on a year-over-year basis. Equities analysts expect that Lennar will post 5.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LEN. Phillip James Consulting Co. purchased a new stake in Lennar in the first quarter valued at approximately $30,000. Global Assets Advisory LLC purchased a new position in Lennar during the 1st quarter worth approximately $39,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Lennar during the 4th quarter valued at approximately $47,000. Anchor Investment Management LLC grew its position in Lennar by 1,276.4% during the 2nd quarter. Anchor Investment Management LLC now owns 757 shares of the construction company’s stock worth $69,000 after purchasing an additional 702 shares during the period. Finally, Elevation Wealth Partners LLC lifted its holdings in shares of Lennar by 1,272.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 796 shares of the construction company’s stock valued at $72,000 after buying an additional 738 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Company Profile

Lennar Corporation is one of the largest homebuilders in the United States. Founded in 1954 and headquartered in Miami, Florida, the company designs, constructs, and sells single-family homes and communities for a range of buyers, including first-time, move-up, and active-adult purchasers.

Lennar operates across many of the country’s major housing markets, including communities in the West, Southwest, Southeast, Mid-Atlantic, and other metropolitan areas. Its homebuilding operations offer a variety of floor plans and home designs, while the company also develops residential communities and provides related services such as mortgage financing, title, and closing services through its financial-services businesses.

In addition to traditional homebuilding, Lennar has expanded into multifamily development and other residential real-estate activities.